(a) Fulfillment upon final approval by Administrator
The terms and conditions for making grants under this part shall be deemed to be fulfilled upon final approval by the Administrator of the Agency for International Development of the debt-for-nature exchange, a certification by the nongovernmental organization that the host government has accepted the terms of the exchange, and that an agreement has been reached to cancel the commercial debt in an agreed upon fashion.
(b) Grants intended to complement assistance otherwise available
Grants made under this section are intended to complement, and not substitute for, assistance otherwise available to a foreign country under this chapter or any other provision of law.
(c) Prohibition against acceptance of title or interest in land as condition on debt exchange
The United States Government is prohibited from accepting title or interest in any land in a foreign country as a condition on the debt exchange.
References in Text
This chapter, referred to in subsec. (b), was in the original "this Act", meaning Pub. L. 87–195, Sept. 4, 1961, 75 Stat. 424, as amended, known as the Foreign Assistance Act of 1961. For complete classification of this Act to the Code, see Short Title note set out under section 2151 of this title and Tables.
Codification
Another section 465 of Pub. L. 87–195 is classified to section 2275 of this title.
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